Markets traded down slightly on Monday in advance of a holiday-shortened trading week. The Dow and the S&P 500 were waffling between positive and negative territory in the final hour of trading on low volume The Nasdaq was down nearly 1% and the Russell 2000 was down .75%.
Crude Oil (WTI) continued falling amid a strengthening dollar, Covid fears in China and reduced demand. Crude Oil broke under $80 per barrel, trading at 79.75 (-0.40).
In the crypto world, both Bitcoin $15,760 and Ethereum $1,100 were both down as the FTX debacle continues to play itself out.
In stocks, all eyes were on Disney (DIS) when the sudden announcement was made to reinstate Bob Iger as CEO. Disney traded up nearly 6% on the announcement ($97.28).
Cargill Names 31-Year Company Veteran Brian Sikes as New CEO
(Reuters) – Cargill Inc said on Monday Brian Sikes will takeover as the global commodities trader’s new president and chief executive officer on January 1.
Sikes will succeed Dave MacLennan, who has served as Cargill’s CEO and Chairman since 2013.
MacLennan will now assume the role of Executive Chair of Cargill’s Board of Directors and will serve as a strategic advisor to Sikes and ensure a smooth leadership transition, the company said.
Sikes, who will be the company’s tenth CEO, has been with Cargill for 31 years and currently serves as chief operating officer. He has held leadership roles in the United States, Canada and Europe, and served as the head of the company’s talent center of expertise.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Krishna Chandra Eluri)
Monday Closing Bell, November 21 (4 PM ET)
|DJIA||33,707.50 -38.19 (-0.11%)|
|S&P 500||3,950.83 -15.06 (-0.39%)|
|NASDAQ||11,024.51 -121.51 (-1.09%)|
|Russell 2000||1,836.15 -13.52 (-0.73%)|
|Crude Oil||79.75 -0.22 (-0.25%)|
|US Dollar Index||107.657 +0.844 (+0.79%)|